FREMONT, California, August 21, 2018 /PRNewswire/ --
According to a market research report by BIS Research, titled "Strategic Assessment of Blockchain in Automotive- Analysis, and Forecast, 2018-2026", the global automotive blockchain market size is estimated to reach $1.6 billion by 2026, growing at a CAGR of 65.80% during the period 2018-2026. The growing popularity of blockchain technology, owing to its numerous benefits including immutability, reliability, and scalability, among others, along with the high application potential of blockchain technology are expected to fuel the market growth during the forecast period.
The market intelligence report provides a detailed analysis of the key growth drivers and the restraining forces of the global automotive blockchain market, with an extensive insight into various forms of developments, strategies, trends, and key participants in the market.
The report deals with the market size of the automotive blockchain with respect to different types of applications including automotive manufacturing, automotive supply-chain, automotive safety & security, automotive finance, payments, and insurance services, and others (infotainment, ridesharing, and fleet management) in terms of revenue. The area of application for blockchain technology during this stage would encompass the whole automotive value chain. However, the uptake of this technology would still be extremely varied and highly skewed toward finance, payments, and insurance applications.
According to our senior analyst, Haarish Ahmad, "Automotive financing, leasing, and insurance services is the most dominant application segment for the automotive blockchain and accounts formajority of the total revenue generated by the blockchain technology in the automotive domain.Additionally, automotive manufacturing is expected to witness the highest growth in automotive blockchain market with a CAGR of 107.38%, owing to the incorporation of blockchain technology by the OEMs within their assembly lines and operations.
The market report includes a thorough analysis of the market trends and size, along with market estimation based on the major application segment. The report also includes detailed financial analysis of the key players in the market, including SWOT analysis of each company. Some of the key players in the automotive blockchain market include Ripple Labs Inc., Ethereum, BigChain DB, Factom Inc., IBM Corporation, Mesosphere Inc., Reply SpA, R3, and Oaken Innovations. The key strategies being adopted by the market players to attain market shares in this emerging domain are joint ventures, collaborations, and partnerships. All of these key players collaborate and partner with each other to enhance their product and service offerings in order to deliver the most cutting-edge solutions including databases, platforms, and decentralized applications to facilitate in-vehicle payments, data exchange & storage, insurance claim settlements, supply chain, and logistics, among others.
This report is a meticulous compilation of research on around 60 players in the blockchain ecosystem and draws upon insights from in-depth interviews of the key opinion leaders, market participants, and vendors.
The report addresses the following questions about the global automotive blockchainmarket:
What is the expected global automotive blockchain market size in terms of revenue during period 2018-2026?
Which are the dominant application segment of the blockchain technology in the automotive domain?
What is the revenue generated by the different types of the application within the automotive blockchain market?
What will be the different factors driving the market during the forecast period?
What are the major factors challenging the growth of the global automotive blockchain market?
What kinds of new strategies are being adopted by the existing market players to make a mark in the industry?
What are the existing governmental regulations and mandates influencing the adoption of blockchain technology within the automotive segment?
What are the funding scenarios among the start-ups within the automotive blockchain ecosystem?
About BIS Research: BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.